We are currently crowdfunding from Family, Friends, and Fans. This is not your average donation-based crowdfunding though. We are crowdfunding with Convertible Notes.
What are Convertible Notes? (in Dutch: converteerbare obligatie of lening)
A convertible note is a loan that converts into equity, which typically happens with a future financing round. As an investor, you would be loaning money to Lanced, and instead of getting your loan (+interest) back in cash, you would receive equity in the company.
Why are you using Convertible Notes?
It is very common in the world of startups to offer convertible notes because it delays the valuation question. At this point, nobody can determine our company’s valuation and thus we can’t determine the price of a share. By using convertibles we can quickly raise cash, continue building our product, and not have to deal with any crazy valuation discussions.
Terms of our Convertible Notes:
The Convertible Note that we are offering will include a 20% discount on equity. Meaning, if you’d invest €100,- in Lanced and we get a future valuation that determines the price per share at €10,-. You would be getting 12 shares instead of 10 shares.
How much money are you looking to raise and how will you use it?
We are looking to crowdfund between €30.000,- and €50.000,-.
Depending on the exact amount of money we raise, we will use the money in the following way:
How much money can I invest?
That is really up to you! We accept the following amounts:
To invest, we’d need to sign a Convertible Note Agreement. After signing we can arrange the transfer of funds. NOTE: due to legal reasons we cannot accept transfers made from US bank accounts.
Download a concept of our Convertible Note Agreements using the following link ->